Mitsubishi UFJ Asset Management Co. Ltd. Reduces Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Mitsubishi UFJ Asset Management Co. Ltd. trimmed its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 35.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,500 shares of the company's stock after selling 28,000 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Astera Labs were worth $7,117,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in ALAB. Tidal Investments LLC boosted its stake in shares of Astera Labs by 81.8% during the third quarter. Tidal Investments LLC now owns 45,298 shares of the company's stock valued at $2,373,000 after purchasing an additional 20,388 shares in the last quarter. Proficio Capital Partners LLC lifted its holdings in Astera Labs by 1.8% during the fourth quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company's stock worth $2,864,000 after buying an additional 390 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Astera Labs during the third quarter worth $530,000. State Street Corp boosted its position in Astera Labs by 173.1% during the 3rd quarter. State Street Corp now owns 698,467 shares of the company's stock valued at $36,593,000 after acquiring an additional 442,698 shares in the last quarter. Finally, Peregrine Investment Management Inc. purchased a new position in shares of Astera Labs in the 4th quarter valued at $10,701,000. Hedge funds and other institutional investors own 60.47% of the company's stock.

Astera Labs Trading Down 4.9 %

NASDAQ ALAB traded down $2.74 on Friday, hitting $52.94. 5,757,559 shares of the company's stock traded hands, compared to its average volume of 3,717,818. The firm's 50-day moving average price is $78.49 and its two-hundred day moving average price is $90.74. The firm has a market capitalization of $8.58 billion and a PE ratio of -30.60. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39.

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Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its earnings results on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. On average, research analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jitendra Mohan sold 350,680 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total value of $31,389,366.80. Following the completion of the transaction, the chief executive officer now directly owns 2,353,655 shares in the company, valued at $210,675,659.05. The trade was a 12.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Manuel Alba sold 63,000 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the sale, the director now owns 444,863 shares in the company, valued at approximately $28,190,968.31. This represents a 12.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 633,990 shares of company stock valued at $54,235,012 in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Needham & Company LLC restated a "buy" rating and set a $140.00 price objective on shares of Astera Labs in a research note on Tuesday, February 11th. Northland Securities raised shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price target for the company in a research report on Tuesday, January 28th. Barclays lifted their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. Craig Hallum increased their target price on shares of Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. Finally, Northland Capmk upgraded shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $112.77.

Astera Labs Profile

Astera Labs, Inc designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure. Its Intelligent Connectivity Platform is comprised of a portfolio of data, network, and memory connectivity products, which are built on a unifying software-defined architecture that enables customers to deploy and operate high performance cloud and AI infrastructure at scale.